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• ASIC's Review Highlights Concerns in Car Finance Practices

  The Australian Securities and Investments Commission (ASIC) has recently conducted a comprehensive review of the nation's motor vehicle finance sector, uncovering significant issues that raise concerns about responsible lending practices.

• Allied Credit Strengthens Position with Macquarie Loan Acquisition

  In a significant development within the Australian financial sector, Allied Credit has announced the acquisition of a substantial portion of Macquarie Group's car loan portfolio, valued at $1.5 billion. This strategic move is set to bolster Allied Credit's position in the car finance market and expand its customer base.

• ASIC's Review Focuses on Car Finance Practices in Regional and First Nations Communities

  The Australian Securities and Investments Commission (ASIC) has initiated a comprehensive review of the motor vehicle finance sector, with a particular focus on practices affecting consumers in regional and remote areas, including First Nations communities. This initiative seeks to enhance consumer protections and ensure fair lending practices across all demographics.

• ASIC Calls for Improved Consumer Safeguards in Car Finance Sector

  The Australian Securities and Investments Commission (ASIC) has conducted a comprehensive review of the motor vehicle finance sector, uncovering significant issues that adversely affect consumers. This investigation was initiated in response to a surge in complaints regarding high costs associated with car financing.

• Bank Australia Ceases Financing for New Fossil Fuel Vehicles

  In a bold move towards environmental sustainability, Bank Australia has ceased offering loans for new petrol, diesel, and hybrid vehicles as of February 2025. This policy change aligns with the bank's commitment to achieving net-zero carbon emissions by 2035.

• CommBank Introduces Discounted EV Loans for Essential Workers

  In a significant move to promote sustainable transportation, the Commonwealth Bank of Australia (CommBank) has introduced discounted loans for electric and hybrid vehicles, specifically targeting essential workers and individuals earning less than $100,000 annually.

• Affordable Electric Vehicle Loans Now Available for Eligible Australians

  In a significant move to promote sustainable transportation, the Australian government has introduced a new loan scheme offering low-interest financing for electric vehicles (EVs).

• Rising Car Repossessions Highlight Financial Challenges for Australians

  Recent data indicates a sharp increase in car repossessions across Australia, signaling escalating financial distress among households. Automotive auction house Pickles has reported a 13% rise in repossessed vehicles over the past six months, with an 11% increase in the last quarter alone.

• December Sees Decline in Used Car Sales and Values, Reports AADA

  The Australian Automotive Dealer Association (AADA) has released its December 2025 Automotive Insight Report (AIR), revealing a notable downturn in the used car market. After a period of oversupply, the market experienced a 3.8% reduction in listings, bringing the total to 322,532 vehicles.

• RBA Maintains Cash Rate at 3.60%, Hints at Future Increases

  The Reserve Bank of Australia (RBA) has decided to keep the cash rate steady at 3.60% during its final policy meeting of 2025. This decision comes amid rising inflation, which reached 3.8% in October, surpassing the RBA's target range of 2-3%.

• ASIC's Review Highlights Concerns in Car Finance Practices

  The Australian Securities and Investments Commission (ASIC) has conducted a comprehensive review of the motor vehicle finance sector, uncovering significant issues that raise concerns about responsible lending practices. The findings indicate that some consumers are being subjected to exorbitant fees and are defaulting on their loans shortly after approval.

• Bank Australia Shifts Focus to Electric Vehicle Financing

  In a bold move towards environmental sustainability, Bank Australia has ceased offering loans for new petrol, diesel, and hybrid vehicles as of February 2025. This policy change aligns with the bank's commitment to achieving net-zero carbon emissions by 2035.

• ASIC's Review Highlights Concerns in Car Finance Practices

  The Australian Securities and Investments Commission (ASIC) has recently conducted a comprehensive review of the nation's motor vehicle finance sector, uncovering significant issues that raise concerns about responsible lending practices.

• Cooling Trends Emerge in Australia's Used Car Market

  The Australian used car market, which experienced significant growth throughout most of 2024, has shown signs of deceleration in the final months of the year. This trend suggests a more cautious outlook for 2025, influenced by various economic factors and shifting consumer behaviors.

• ASIC Calls for Strengthened Consumer Protections in Car Finance

  The Australian Securities and Investments Commission (ASIC) has intensified its scrutiny of the motor vehicle finance sector, urging lenders to bolster consumer protections and enhance oversight mechanisms.

• ASIC's Review Highlights Urgent Need for Reform in Car Finance Sector

  The Australian Securities and Investments Commission (ASIC) has recently conducted a comprehensive review of the motor vehicle finance sector, uncovering significant issues that adversely affect consumers. This investigation was initiated in response to a surge in complaints regarding high costs associated with car financing.

• CBA's AI Assistant Revolutionises Car Buying Experience

  The Commonwealth Bank of Australia (CBA) has unveiled an innovative AI assistant designed to transform the car buying process for Australian consumers. This cutting-edge tool aims to provide detailed information on vehicle costs and features, enhancing transparency and aiding buyers in making informed decisions.

• ASIC Targets Car Finance Practices in Regional and First Nations Communities

  The Australian Securities and Investments Commission (ASIC) has commenced a comprehensive review of the motor vehicle finance sector, with a particular focus on practices affecting consumers in regional and remote areas, including First Nations communities. This initiative seeks to enhance consumer protections and ensure fair lending practices across all demographics.

• March 2025: Australian New Car Sales Experience Slight Decline

  In March 2025, Australia's automotive market recorded a slight downturn, with new car sales totaling 108,606 units—a 0.9% decrease compared to the same month in the previous year. This marginal decline reflects the ongoing economic pressures affecting consumer spending habits.

• Green Loans Drive Down Personal Loan Averages in Australia

  In recent developments within Australia's financial sector, the increasing availability of green loans has begun to influence the average rates of personal loans.

• RBA Rate Cuts Provide Mortgage Relief, Personal Loan Rates Unchanged

  In 2025, the Reserve Bank of Australia (RBA) implemented a series of rate cuts, reducing the cash rate from 4.35% to 3.60%. This move was aimed at alleviating financial pressures on borrowers, particularly mortgage holders.

• Australia's Electric Vehicle Financing Hits $6 Billion Milestone in 2024

  In 2024, Australia witnessed a remarkable surge in electric and hybrid vehicle financing, with total loans reaching $6.17 billion—a 50% increase from the previous year. This substantial growth underscores a nationwide shift towards more sustainable transportation options.

• Westpac Resolves Auto Finance Class Action with $81 Million Settlement

  Australia's Westpac Banking Corporation has reached a settlement of A$130 million (approximately $81.84 million) to resolve a class action lawsuit concerning its auto finance practices.

• ASIC's Comprehensive Review Targets Motor Vehicle Finance Practices

  The Australian Securities and Investments Commission (ASIC) has commenced an in-depth review of the motor vehicle finance sector, aiming to bolster consumer protections, particularly for borrowers in regional and remote areas, including First Nations communities. This initiative underscores ASIC's commitment to ensuring fair and responsible lending practices across Australia.

• Bank Australia Shifts Focus to Electric Vehicle Financing

  In a significant move towards environmental sustainability, Bank Australia has ceased offering loans for new petrol, diesel, and hybrid vehicles as of February 2025. This policy change aligns with the bank's commitment to achieving net-zero carbon emissions by 2035.

• Australian Used Car Market Faces Cooling Trends Post-2024 Surge

  The Australian used car market, which experienced robust growth throughout most of 2024, has shown signs of slowing down in the final months of the year. This trend suggests a more cautious outlook for 2025, influenced by various economic factors and affordability concerns.

• Westpac Divests Auto Finance Loans to Resimac Group

  In a strategic move to concentrate on its core banking operations, Westpac Banking Corp has announced the sale of its auto finance loan book to non-bank lender Resimac Group. The transaction is valued between A$1.4 billion and A$1.

• ANZ Bank Penalised A$240 Million for Regulatory Misconduct

  In a significant development within Australia's banking sector, ANZ Bank has agreed to pay a record-breaking A$240 million fine for a series of regulatory breaches. This penalty, imposed by the Australian Securities and Investments Commission (ASIC), underscores the importance of compliance and transparency in financial institutions.

• ASIC Commences In-Depth Review of Motor Vehicle Finance Practices

  The Australian Securities and Investments Commission (ASIC) has embarked on a thorough review of the motor vehicle finance sector, aiming to bolster consumer protections and ensure industry-wide compliance with responsible lending obligations.

• ASIC Initiates Comprehensive Review of Motor Vehicle Finance Practices

  The Australian Securities and Investments Commission (ASIC) has commenced a thorough review of the motor vehicle finance sector, aiming to bolster consumer protections and ensure industry-wide compliance. This initiative is particularly focused on the experiences of borrowers in regional and remote areas, including First Nations communities.

• Macquarie Transfers $1.5 Billion Car Loan Portfolio to Allied Credit

  In a significant development within the Australian financial sector, Macquarie Group's Banking and Financial Services division has agreed to sell a substantial portion of its car loan portfolio, valued at $1.5 billion, to Allied Credit.

• Bank Australia Ends Financing for New Petrol, Diesel, and Hybrid Vehicles

  In a bold move towards environmental sustainability, Bank Australia has ceased offering loans for new petrol, diesel, and hybrid vehicles as of February 2025. This policy change is part of the bank's commitment to achieving net-zero carbon emissions by 2035.

• RBA Maintains Cash Rate at 3.60% Amid Inflationary Pressures

  The Reserve Bank of Australia (RBA) has decided to keep the cash rate steady at 3.60% during its latest policy meeting on September 30, 2025. This decision comes despite recent signs of accelerating inflation and a persistently tight labor market.

• ANZ Bank Settles Class Actions Totaling $68 Million Over Car Loan and Superannuation Practices

  In a significant development, ANZ Bank has agreed to pay A$99 million (approximately $68 million USD) to settle two class actions dating back to 2020. These settlements address allegations concerning the bank's car loan practices and superannuation product fees.

• Increase in Car Loan Delinquencies in Australia Sparks Economic Concerns

  Recent reports indicate a notable rise in car loan delinquencies across Australia, with an increasing number of vehicles being repossessed and sold at auctions. This trend is attributed to factors such as inflation, high interest rates, and the diminishing ability of car owners to refinance their loans.

Read our Articles

• How to Compare Car Loans: A Step-by-Step Guide for Australian Buyers

  When planning to take out a car loan, it is crucial to start by understanding your budget. Consider how much you can realistically afford to borrow without straining your finances. Assessing your monthly income and expenses will help you arrive at a sensible figure, ensuring you don't overcommit.

• Beginner's Guide to Secured vs Unsecured Car Loans in Australia

  Buying a car is a significant financial decision, and understanding the loan terms involved is crucial to navigating this process effectively.

• The Role of Loan Terms in Car Buying: Flexibility Explained

  When it comes to buying a car, understanding the loan terms is just as essential as choosing the right make and model. The terms of a loan can significantly affect your financial journey beyond just the asking price.

• Decoding Car Loan Fees: What to Watch Out For

  Navigating the car loan landscape in Australia can feel like a daunting task. With a vast array of options available, choosing the right car loan can significantly impact your financial well-being.

• Fixed vs. Variable Interest Rates: Which Car Loan is Right for You?

  Purchasing a car is a major financial decision for many Australians, and it often involves securing a loan. With numerous options available, navigating the car loan landscape can be overwhelming. Understanding your choices is essential for finding the loan that best suits your needs.

• Avoiding Financial Pitfalls: Tips for First-Time Car Buyers in Australia

  Before taking the plunge into car ownership, it's crucial to have a clear view of your current financial health. Start by evaluating your income, monthly expenses, and any savings you may have set aside.

• How to Create a Flexible Budget for Your Next Car Purchase

  When it comes to buying a car, particularly a used one, having a flexible budget is essential. Flexible budgeting allows you to adjust your spending plan according to your current financial situation and any unexpected changes that might occur.

• The Pros and Cons of Car Loans for Used Vehicles in Australia

  With the rising cost of living, many Australians are opting for used vehicles as a cost-effective alternative to brand-new cars. Buying a used car can offer significant savings, reducing the initial financial burden while still providing reliable transportation.

• Pre-purchase Checklist for Auto Buyers: Ensuring Financial Readiness

  Buying a car is an exciting milestone, but it's crucial to approach the process with a clear financial plan in place.

• 5 Critical Steps to Take Before Applying for a Car Loan in Australia

  Stepping into the world of auto financing can be as daunting as it is exciting. The commitment of a new car loan demands more than just desiring your dream car; it necessitates a balanced budget and a solid financial plan.

• 5 Strategies for Balancing Your Budget with a New Car Loan

  With the excitement of purchasing a new vehicle, the financial responsibilities that come with a new car loan can often be overlooked. Balancing your budget when you have taken on a new car loan is crucial to financial well-being and long-term happiness with your purchase.

• Understanding Car Loan Refinancing in Australia: When Is It the Right Move?

  Car loan refinancing involves replacing an existing car loan with a new one, usually to lower the interest rate, reduce monthly payments, or modify the loan term. In Australia's fluctuating economic landscape, refinancing can be a strategic financial decision for borrowers looking to adjust their finances to more favorable terms.

• From Fuel to Finance: A Comprehensive Breakdown of Car Costs

  When it comes to owning a car in Australia, many of us view it as a symbol of freedom, an essential convenience, or even a reflection of our personal style.

• Avoid the Pitfalls: Common Mistakes to Avoid When Seeking Car Finance

  Entering the world of car finance can be both an exciting and daunting venture. With a plethora of options for car loans in Australia, it is essential for potential buyers to arm themselves with knowledge to make the best financial decision.

• The Complete Checklist for Choosing a Car Loan Provider in Australia

  Finding the right car loan in Australia can be just as critical as selecting the car itself. Car finance, though a common undertaking, involves nuanced decisions that can have a significant impact on your financial future.

• Navigating Car Finance: How to Choose a Loan That Works for You

  Buying a car is a significant financial decision, and for many, it means exploring the world of car finance. In Australia, the options are plentiful, and understanding them is key to making an informed choice.

• Top Tips for Australians Navigating the Online Car Market

  The Australian automotive landscape has witnessed a significant transformation with the rise of online car sales. The concept of browsing, selecting, and purchasing a vehicle through digital platforms has gained immense popularity, offering consumers a vast array of choices at their fingertips.

• The Essential Guide to Securing Affordable Car Finance in Australia

  Finding an affordable car finance option can make the dream of owning a vehicle a tangible reality for many Australians. It’s about understanding the intricacies of the loan market, interest rates, and finding a plan that aligns with your financial prospects and constraints.

• The Smart Aussie Buyer's Guide to Securing the Best Price on a New Car

  There's a unique thrill that comes with purchasing a new car; it's not just about getting from point A to B, but about fulfilling a dream and the freedom of the open road.

• Your Car Loan Journey: From Application to Approval

  In this article, we are embarking on a guided journey that we believe will help immensely in navigating the intricacies of the car loan process.

• Car Loans: Secured vs Unsecured

  Car loans play a pivotal role in empowering individuals to afford their own vehicle, which can be a significant purchase. These loans, structured to fit within one's financial situation, can ease the burden of acquiring a car and assist in achieving personal convenience and mobility.